Big M&G project is struggling

Mossi and Ghisolfi’s (M&G) big surface polyethylene terephthalate (PET) project in Corpus Christi, Texas, is in trouble. Contractor Fluor Enterprises has given notice to the State of Texas that it is laying off 274 workers who are building the plant. This follows comments from rival Alpek, which has a contract to buy 500,000 metric tons of PET per year from the facility once it is completed. Alpek doubts M&G can complete the plant. Also, the Mexican company is cutting off supplies of the raw material purified terephthalic acid to M&G at other locations because of nearly $50 million in unpaid bills. Earlier this year, contractors working on the Corpus Christi unit filed liens in Nueces County, Texas, against M&G for nonpayment.